USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.37% against the CAD to close at 1.0633, amidst a public holiday in Canada.
In the Asian session, at GMT0300, the pair is trading at 1.0641, with the USD trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 1.0618, and a fall through could take it to the next support level of 1.0596. The pair is expected to find its first resistance at 1.0671, and a rise through could take it to the next resistance level of 1.0702.
With no major economic releases from Canada, later today, market participants are expected to keep an eye on global economic news, for further guidance in the currency pair.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
